본문 내용으로 건더뛰기

KDI 경제교육·정보센터

ENG
  • 경제배움
  • Economic

    Information

    and Education

    Center

최신자료
How Tariffs Are Affecting Prices in 2025
FRB of St. Louis
2025.12.08
Our analysis suggests that tariff measures are already exerting measurable upward pressure on consumer prices. The rise in prices beginning in early 2025 coincides closely with tariff developments, and our model-based regressions confirm that these effects are statistically and economically significant.

At the same time, the pass-through remains partial; only a portion of the model-predicted effect has materialized so far. This could reflect delays in price adjustments, competitive pressure limiting firms’ ability to raise prices, or expectations that the tariffs may prove temporary.

As we continue to monitor inflation dynamics in the months ahead, understanding the link between trade policy and consumer prices will be essential for assessing the persistence of inflation and the broader implications for economic policy.